Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Storm Strengthens Umbach Montney Ops; 11 Wells Planned for 2014
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Storm Resources Ltd. has reported an update on its operations in British Columbia.
Production in the third quarter of 2013 was approximately 3,800 Boe per day based on field estimates. September 2013 production averaged approximately 4,360 Boe per day, also based on field estimates. Capital investment during the third quarter of 2013 was approximately $23.5 million which included drilling five horizontal wells (5.0 net) at Umbach and completing three horizontal wells (3.0 net) which began producing on August 25, September 12 and October 19 respectively.
Horizontal well performance has improved with the first three horizontals on Storm's 100% working interest lands averaging 4.4 Mmcf per day gross raw gas (800 Boe per day sales) over the first 30 days (operated day rates), an improvement…
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